Family Savings & Capital Growth

The Family Saving Scheme was officially introduced in 2024, beginning with four participating members. This initiative was designed to provide an alternative financial participation path for family members who were unable to join the Njangi cycle, which requires fixed monthly contributions.

Unlike the Njangi system, the saving scheme allows members to save flexible amounts according to their financial capacity each month, making participation more accessible while still encouraging disciplined saving habits.

In addition to helping members build personal reserves, these savings also strengthen the family’s overall borrowing capital throughout the year, increasing the funds available to support loans within the Njangi system.

In its first year (2024), the saving scheme accumulated 513,250 FCFA in member savings. Participation expanded in 2025, with total savings reaching 1,397,150 FCFA, reflecting growing confidence and participation in the program. Savings grew from 513,250 FCFA in 2024 to 1,397,150 FCFA in 2025, representing a 172% increase in participation and capital accumulation.

Savings contributed during the year are returned to participating members annually on December 10, allowing members to recover their accumulated funds while benefiting from the discipline of structured saving.

Participation in the saving scheme is flexible. Family members may choose to participate only in the saving scheme, or they may participate in both the Njangi and the saving scheme simultaneously.

Borrowing Against Personal Savings

Members participating in the saving scheme may borrow against their own savings when necessary. Borrowing against personal savings does not require a guarantor, since the savings themselves serve as the security.

However, the standard emergency interest rate of 1.5% still applies to such borrowing. This policy was intentionally established to discourage premature withdrawal of savings before the annual distribution date, while still allowing members access to their funds in genuine emergencies.

Purpose of the Saving Scheme

The saving scheme was established to:

Encourage financial discipline and regular saving. Provide an accessible financial option for members unable to join the Njangi cycle. Strengthen the family’s lending capacity throughout the year. Support emergency financial needs while maintaining savings stability. Build long-term economic resilience within the family.